Pre-Open Movers 09/14: (HALO) (THC) (ALV) Higher; (ARRY) (HTZ) (VNDA) Lower (more...)
Today's Pre-Open Movers
Halozyme Therapeutics, Inc. (NASDAQ: HALO) 18.7% HIGHER; raised financial guidance for 2017 following the announcement of two new licensing agreements for its ENHANZE® drug-delivery technology. Pending customary anti-trust review of its agreement with Bristol-Myers Squibb, Halozyme now expects 2017 financial results of: Net revenue of $245 million to $260 million, an increase of $130 million from the prior range of $115 million to $130 million, reflecting the portion of upfront payments from the new agreements expected to be recorded as revenue in 2017; (*** consensus is $131.9 million)
Tenet Healthcare (NYSE: THC) 10% HIGHER; is exploring strategic options including a sale after facing activist pressure, according to the Wall Street Journal, citing people familiar with the matter. The company hired advisers to look at a range of options.
Autoliv, Inc. (NYSE: ALV) 9.8% HIGHER; announced that its Board of Directors has instructed management to conduct a strategic review of its operating structure with the intent to create separate companies of its current business segments, Passive Safety and Electronics.
Array BioPharma Inc. (NASDAQ: ARRY) 8.8% LOWER; today announced that it has commenced an underwritten public offering of $175,000,000 of shares of its common stock. Array BioPharma also intends to grant the underwriters a 30-day option to purchase up to an additional $26,250,000 of shares of its common stock offered in the public offering. All of the shares in the offering are to be sold by Array BioPharma.
Hertz Global (NYSE: HTZ) 6.8% LOWER; Morgan Stanley downgraded from Equalweight to Underweight with a price target of $14.00 (from $12.00).
United Natural Foods (NASDAQ: UNFI) 6.7% HIGHER; reported Q4 EPS of $0.72, $0.02 better than the analyst estimate of $0.70. Revenue for the quarter came in at $2.34 billion versus the consensus estimate of $2.36 billion. GUIDANCE: United Natural Foods sees FY2018 EPS of $2.67-$2.77, versus the consensus of $2.67. United Natural Foods sees FY2018 revenue of $9.63-9.81 billion, versus the consensus of $9.75 billion.
Actinium Pharma (NYSE: ATNM) 6% HIGHER; Maxim Group initiates coverage with a Buy rating and a price target of $3.00
Park City Group (NASDAQ: PCYG) 5.5% HIGHER; reported Q4 EPS of $0.05. Revenue for the quarter came in at $5.2 million.
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) 5% LOWER; announced results from an 8-week randomized Phase II clinical study of tradipitant as a monotherapy in the treatment of chronic pruritus in patients with atopic dermatitis. Tradipitant was shown to improve the intensity of the worst itch patients experienced, as well as atopic dermatitis disease severity.
Lakeland Industries (NASDAQ: LAKE) 4.4% HIGHER; reported Q2 EPS of $0.25, $0.05 better than the analyst estimate of $0.20. Revenue for the quarter came in at $23.9 million versus the consensus estimate of $23.91 million.
Epizyme, Inc. (NASDAQ: EPZM) 4% LOWER; announced that it intends to offer and sell $120 million of shares of its common stock in an underwritten public offering. Epizyme also intends to grant the underwriters a 30-day option to purchase up to an additional fifteen percent (15%) of the shares of common stock offered in the public offering. All of the shares in the proposed offering are to be sold by Epizyme.
Opko Health (NASDAQ: OPK) 3.6% LOWER; JPMorgan downgraded from Overweight to Neutral with a price target of $7.00 (from $12.00).
US Foods Holding Corp. (NYSE: USFD) 2.7% LOWER; announced an offering of an aggregate of 40,000,000 shares of its common stock by investment funds associated with Clayton, Dubilier & Rice, LLC and Kohlberg Kravis Roberts & Co. L.P. (collectively, the “Selling Stockholders”). In connection with the offering, the Selling Stockholders will grant to the underwriters a 30-day option to purchase up to an additional 6,000,000 shares of common stock.
New Oriental Education (NYSE: EDU) 2.2% LOWER; JPMorgan downgraded from Neutral to Underweight with a price target of $82.00.
Lattice Semiconductor (Nasdaq: LSCC) 1.6% LOWER; President Trump blocked a Chinese-backed investor from buying Lattice on national-security ris
William Lyon Homes (NYSE: WLH) 1.3% LOWER; announced that an entity affiliated with Paulson & Co. Inc. (“Seller”) intends to offer 3,322,666 shares of the Company’s Class A Common Stock in a registered public offering. The Company will not sell any shares in this offering or receive any portion of the proceeds from this offering.
Alibaba (NYSE: BABA) 1.2% LOWER; disclosed that JC Properties Limited and JSP Investment Limited, entities affiliated with Jack Ma, founder and executive chairman of Alibaba Group Holding Limited (the Company), and The Jack Ma Philanthropic Foundation, a philanthropic foundation affiliated with Mr. Ma, have adopted a pre-arranged share sales plan in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended (Rule 10b5-1). The plan allows for the sale of up to 16 million shares of the Company over a 12-month period commencing in October 2017. The 16 million shares of the Company represent approximately 9% of the holdings under Mr. Mas beneficial ownership.